N.Y. Comp. Codes R. & Regs. Tit. 21 § 4247.8 - Expenses
(a) An application
fee of $250 must be paid to the corporation for projects that involve
acquisition, construction, reconstruction, rehabilitation, alteration or
improvement of real property, the financing of machinery and equipment and
working capital loans and loan guarantees before final review of an application
can be completed. This fee will be refunded in the event the application is
withdrawn or rejected.
(b) The
corporation will assess a commitment fee of up to two percent of the amount of
any program loan involving projects for acquisition, construction,
reconstruction, rehabilitation, alteration or improvement of real property, the
financing of machinery and equipment and working capital payable upon
acceptance of commitment with up to one percent rebated at closing. No portion
of the commitment fee will be repaid if the commitment lapses and the project
does not close. The corporation will assess a fee of up to one percent, payable
at closing, of the amount of any program grant involving the acquisition,
construction, reconstruction, rehabilitation, alteration or improvement of real
property or the financing of machinery and equipment or any loan
guarantee.
(c) The applicant will
be obligated to pay for expenses incurred by the corporation in connection with
the project, including, but not limited to, expenses related to attorney,
appraisals, surveys, title insurance, credit searches, filing fees, public
hearing expenses and other requirements deemed appropriate by the
corporation.
Notes
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